|
Report No. : |
328759 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
HOLMAN FENWICK
WILLAN SINGAPORE LLP |
|
|
|
|
Formerly Known As : |
HOLMAN FENWICK WILLAN SINGAPORE LLP (SINGAPORE BRANCH) |
|
|
|
|
Registered Office : |
3, Church Street, 19-03, Samsung Hub, 049483 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
28.05.2009 |
|
|
|
|
Com. Reg. No.: |
T09FC0060-J |
|
|
|
|
Legal Form : |
Foreign |
|
|
|
|
Line of Business : |
Legal Activities (Note: We tried to confirm obtain the details activity but the same is not available from any source.) |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market
economy. It enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP higher than that of most developed countries.
Unemployment is very low. The economy depends heavily on exports, particularly
of consumer electronics, information technology products, medical and optical
devices, pharmaceuticals, and on its vibrant transportation, business, and
financial services sectors. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but has continued to grow since 2010 on the
strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a
result of soft demand for exports amid a sluggish global economy and weak
growth in Singapore’s manufacturing sector. The government is attempting to
restructure Singapore’s economy by weaning its dependence on foreign labor,
addressing weak productivity, and increasing Singaporean wages. Singapore has
attracted major investments in pharmaceuticals and medical technology
production and will continue efforts to strengthen its position as Southeast
Asia's leading financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade negotiations, the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea and New Zealand, and
in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
T09FC0060-J |
|
COMPANY NAME |
: |
HOLMAN FENWICK WILLAN SINGAPORE LLP |
|
FORMER NAME |
: |
HOLMAN FENWICK WILLAN SINGAPORE LLP (SINGAPORE BRANCH) (18/11/2009) |
|
INCORPORATION DATE |
: |
28/05/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
FOREIGN |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
3, CHURCH STREET, 19-03, SAMSUNG HUB, 049483, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
3, CHURCH STREET, 19-03, 049483, SINGAPORE. |
|
TEL.NO. |
: |
65-64115300 |
|
FAX.NO. |
: |
65-64115355 |
|
WEB SITE |
: |
WWW.HFW.COM |
|
CONTACT PERSON |
: |
PAUL THOMAS ASTON ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
LEGAL ACTIVITIES |
|
AUTHORISED CAPITAL |
: |
N/A |
|
SALES |
: |
SGD 18,686,717 [2013] |
|
NET WORTH |
: |
SGD 717,492 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is principally engaged in the (as a / as an) legal
activities.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
25/06/2015 |
SGD 0.00 |
No shareholders was found in our databank at the time of investigation
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
PAUL THOMAS ASTON |
|
Address |
: |
28, GILSTEAD ROAD, 05-02, 309072, SINGAPORE. |
|
IC / PP No |
: |
F1704775L |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
23/01/2013 |
|
Remark |
: |
AGENT |
DIRECTOR 2
|
Name Of Subject |
: |
ARYON PAUL APOSTOLIS |
|
Address |
: |
25, NATHAN ROAD, 04-07, NATHAN RESIDENCES, 248745, SINGAPORE. |
|
IC / PP No |
: |
G5429659U |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
24/10/2013 |
|
Remark |
: |
AGENT |
DIRECTOR 3
|
Name Of Subject |
: |
HIFZI, MERT OZKAN |
|
Address |
: |
61, GRANGE ROAD, 10-02, BEVERLY HILL APARTMENTS, 249570, SINGAPORE. |
|
IC / PP No |
: |
G6043363T |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/04/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PAUL THOMAS ASTON |
|
Position |
: |
DIRECTOR |
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
No company secretary was found in our databank.
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject is a service provider.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
LEGAL ACTIVITIES |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) legal activities.
The Singapore office operates throughout SE Asia and has particular strength in
Indonesia.
The Singapore office supports its world renowned transportation practice (in both
the marine and aviation sectors on matters both transactional and contentious,
including admiralty and crisis management) as well as providing sector coverage
to its global resources practices (in both mining and oil and gas, including
LNG). In addition to the sectors in which the firm specialises, HFW advises a
number of associated industries including: ship building, insurance, trade and
corporate finance and capital markets.
The Singapore office has particular expertise with:
Admiralty and Crisis Management
Energy and Natural Resources
International Arbitration
Aviation
Shipping and shipbuilding
Commodities
Corporate, Projects, Finance
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64115300 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
3 CHURCH STREET #19-03 SINGAPORE 049483 |
|
Current Address |
: |
3, CHURCH STREET, 19-03, 049483, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
19.78% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
16.62% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
172.24% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
213.93% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.The
Subject's management have been efficient in controlling its operating costs.
Generally the Subject was profitable. The favourable return on shareholders'
funds and return on net assets indicate that the Subject's management was
efficient in utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
267 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
195 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not need
to keep stocks. The Subject's debtors ratio was high. The Subject should
tighten its credit control and improve its collection period. The
unfavourable creditors' ratio could be due to the Subject taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the Subject and its suppliers and the Subject may inadvertently have
to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.04 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.04 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations and
the Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
193.34 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.26 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. With
the favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : STABLE |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
ECONOMY |
|
The Ministry of Trade and Industry (MTI) announced that it expects the
Singapore economy to grow by around 3.0% in 2014, and by 2.0 to 4.0% in 2015.
Besides that in 2013, the economy grew by 4.1%, higher than the 1.9% growth
in 2012. This was mainly due to strong growth in the services producing
industries, particularly the finance & insurance, as well as wholesale
& retail trade sectors. |
|
|
In 2013, all sectors contributed positively to growth. Finance &
insurance was the largest contributor (1.2 percentage-points), followed by
wholesale & retail trade (0.8 percentage-points) and business services
(0.6 percentage-points). Growth in the manufacturing sector was improved by
1.7%, on the back of strong growth in the electronics and transport
engineering clusters. By contrast, growth in the construction sector
moderated to 5.9%, from 8.6% in 2012. |
|
|
Growth in the services producing industries picked up to 5.3% in 2013,
from 2.0% in 2012. This was mainly due to stronger growth in the finance
& insurance and wholesale & retail trade sectors. The finance &
insurance sector grew by 11%, up from 1.3% in the previous year. The
wholesale & retail trade sector has expanded by 5.0%, after declining by
1.4% the year before. |
|
|
For the whole of 2013, growth in total demand was 3.1%, similar to the
pace of growth in 2012. External demand was the key contributor to total demand
growth, accounting for 2.7 percentage-points, or almost 90%, of the increase.
External demand grew at a faster pace of 3.6%, compared to the 1.4% growth in
2012. This was supported mainly by growth in the exports of machinery &
transport equipment, miscellaneous manufactures, and transport services.
Total domestic demand rose by a modest 1.7%, following the 8.6% increase in
2012. The slower growth in total domestic demand was primarily due to the
decline in gross fixed capital formation (GFCF). |
|
|
For the full year, total consumption expenditure grew by 4.4% in 2013,
faster than the 2.8% growth in 2012. Public consumption expenditure increased
by 11%, a strong rebound from the 1.9% decline in 2012. Private consumption
expenditure recorded gains of 2.7%, moderating from the 4.1% increase in the
preceding year. |
|
|
Furthermore, in the first three quarters of 2014, the Singapore
economy grew by 3.3% on a year-on-year basis. For the rest of the year, growth
is expected to ease slightly on a year-on-year basis, in line with a
projected slowdown in the global economy. Externally-oriented sectors such as
the manufacturing and transportation & storage sectors are likely to
slow, whereas growth in the construction sector will continue to be weighed
down by the weakness in private sector construction activities. On the other
hand, domestically-oriented sectors like business services are likely to
remain resilient. |
|
|
Additionally, the labour market in Singapore is expected to remain
tight in 2015, with low unemployment and rising vacancy rates. Against this
global and domestic backdrop, the growth outlook for the Singapore economy
remains modest. In tandem with the expected pick-up in external demand, externally-oriented
sectors such as manufacturing, wholesale trade and finance & insurance
are likely to provide support to growth. While some domestically-oriented
sectors such as businesses services are expected to remain resilient,
labour-intensive ones like construction, retail and food services may see
their growth weighed down by labour constraints. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
HOLMAN FENWICK WILLAN SINGAPORE LLP |
|
Financial Year End |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
18,686,717 |
15,600,259 |
|
Other Income |
217,449 |
43,082 |
|
---------------- |
---------------- |
|
|
Total Turnover |
18,904,166 |
15,643,341 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,526,994 |
1,309,392 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,526,994 |
1,309,392 |
|
Taxation |
(291,218) |
(229,899) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,235,776 |
1,079,493 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(175,970) |
1,447,844 |
|
---------------- |
---------------- |
|
|
As restated |
(175,970) |
1,447,844 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,059,806 |
2,527,337 |
|
TRANSFER TO RESERVES - General |
(342,314) |
(2,703,307) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
717,492 |
(175,970) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
7,939 |
17,018 |
|
---------------- |
---------------- |
|
|
7,939 |
17,018 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
171,668 |
176,831 |
|
---------------- |
---------------- |
|
|
171,668 |
176,831 |
|
|
============= |
============= |
BALANCE
SHEET
|
|
HOLMAN FENWICK WILLAN SINGAPORE LLP |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
66,581 |
222,884 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
66,581 |
222,884 |
|
Trade debtors |
13,660,093 |
9,091,066 |
|
Other debtors, deposits & prepayments |
5,046,768 |
1,320,997 |
|
Cash & bank balances |
217,605 |
890,980 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
18,924,466 |
11,303,043 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
18,991,047 |
11,525,927 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
10,006,751 |
5,639,731 |
|
Other creditors & accruals |
7,983,040 |
5,536,599 |
|
Bank overdraft |
184,008 |
- |
|
Provision for taxation |
99,756 |
525,567 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
18,273,555 |
11,701,897 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
650,911 |
(398,854) |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
717,492 |
(175,970) |
|
============= |
============= |
|
|
Retained profit/(loss) carried forward |
717,492 |
(175,970) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
717,492 |
(175,970) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
717,492 |
(175,970) |
|
---------------- |
---------------- |
|
|
717,492 |
(175,970) |
|
|
============= |
============= |
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
HOLMAN FENWICK WILLAN SINGAPORE LLP |
|
TYPES OF FUNDS |
||
|
Cash |
217,605 |
890,980 |
|
Net Liquid Funds |
33,597 |
890,980 |
|
Net Liquid Assets |
650,911 |
(398,854) |
|
Net Current Assets/(Liabilities) |
650,911 |
(398,854) |
|
Net Tangible Assets |
717,492 |
(175,970) |
|
Net Monetary Assets |
650,911 |
(398,854) |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
1,534,933 |
1,326,410 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
1,706,601 |
1,503,241 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
184,008 |
0 |
|
Total Liabilities |
18,273,555 |
11,701,897 |
|
Total Assets |
18,991,047 |
11,525,927 |
|
Net Assets |
717,492 |
(175,970) |
|
Net Assets Backing |
717,492 |
(175,970) |
|
Shareholders' Funds |
717,492 |
(175,970) |
|
Total Share Capital |
0 |
0 |
|
Total Reserves |
717,492 |
(175,970) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.01 |
0.08 |
|
Liquid Ratio |
1.04 |
0.97 |
|
Current Ratio |
1.04 |
0.97 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
267 |
213 |
|
Creditors Ratio |
195 |
132 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.26 |
0.00 |
|
Liabilities Ratio |
25.47 |
(66.50) |
|
Times Interest Earned Ratio |
193.34 |
77.94 |
|
Assets Backing Ratio |
- |
- |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
8.17 |
8.39 |
|
Net Profit Margin |
6.61 |
6.92 |
|
Return On Net Assets |
213.93 |
(753.77) |
|
Return On Capital Employed |
170.26 |
(753.77) |
|
Return On Shareholders' Funds/Equity |
172.24 |
(613.45) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.